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Silver Sands Resort property sold to Margaritaville developer, TPI Hospitality

Hurricane Ian destroyed the resort and it was not able to be rebuilt due to new FEMA codes
TPI Hospitality purchases Silver Sands property
Posted at 8:05 AM, Jan 10, 2023

FORT MYERS BEACH, Fla. — TPI Hospitality, developer of Margaritaville, has purchased the property where the Silver Sands Resort was along Estero Blvd. directly across the street from the future Fins Up Beach Club. It'll be used to expansion Margaritaville, where you will see more balcony suites.

Margaritaville Resort Fort Myers Beach

The town's Chamber of Commerce previously said they expected about half of the businesses on Estero Island to not come back. The land, now owned by TPI Hospitality, sits just a few feet away from the upcoming resort.

"We won't be coming back," said Paul Peterson, who has been visiting Fort Myers Beach for years. "We'll find a different beach."

He believes the area is going to expand commercially and push locals out. However, not everyone sees it that way. Some who spoke to Fox 4 off camera and through social media, say they're happy to see development on Fort Myers Beach.

In 1983 the Silver Sands Resort was established as a condominium residential resort with a mix of patio residential dwellings and hotel units. Some of the structures date back to 1960.

Hurricane Ian completely destroyed the resort and it was not able to be rebuilt as it was previously, due to new FEMA codes.

In a Facebook post from the owner, Silver Sands said "...due to lack of insurance proceeds and the state of the town and its permitting processes I chose to sell and retire."

"Everybody's money is pretty much locked up and fighting over insurance and who's going to pay for it," Peterson said. "Pocketbooks are only so deep."

A realtor on Fort Myers Beach previously told Fox 4 he sees development looking different in the town.

"I can see a little more luxury hotels probably," said Jorge Barrera.

TPI Hospitality intends to use the grandfathered density rights to rebuild it again as a resort. Developers say it would be an extension of the Margaritaville Resort comprised of balcony suites with parking underneath and some retail along Estero Blvd.

The main resort will open at the end of 2023 and this expansion will open in mid-2025.